Strong Canadian equity returns lead the way to a 12th consecutive positive month, resulting in a modest gain of about 1% to the Fund (net of fees). Overall performance was also positive -- returns were 27 basis points (0.27%) above the benchmark return for the month and 1.67% above the benchmark for the 12-month period ending June 30, 2014.
The net return after the first ten months of the plan year stands at 15.6519% (September 1, 2013 through June 30, 2014).
Note that the current fund rate, which is calculated monthly based on reports from both our managers and the Plan's trustee, is now used to determine final values for members who decide to initiate pension benefit payments as well as for those who elect to transfer their account balances following termination or retirement. Active and deferred member balances are updated once each year based on the fund rate of return following our year-end of August 31.
For more information, please contact the Pensions & Insurance Unit of the Department of Human Resources.